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Goldman Sachs announces index-linked notes due 2016 tied to S&P 500
By Devika Patel
Knoxville, Tenn., June 9 – Goldman Sachs Group, Inc. plans to price 0% index-linked notes due Dec. 21, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the closing level of the index is at least 84.95% of the initial level, the payout at maturity will be par plus the absolute value of the index return, with a floor of par and a ceiling of 115.05% of the initial level.
Investors will be exposed to any losses if the final level of the index is less than the 84.95% trigger level.
The closing index level will be the average of its levels on Dec. 12, 13, 14, 15 and 16 of 2016.
The notes (Cusip: 38148T5G0) are expected to price June 12 and settle June 17.
Goldman Sachs & Co. is the underwriter. J.P. Morgan Securities LLC is the placement agent.
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